Faced with high prices and mortgage rates, homebuyers are flocking to certain sections of the Midwest and metro-adjacent areas in the Northeast and Midwest in search of the right balance of affordable prices and desirable locales, according to Realtor.com’s annual list which ranks the “Hottest Zip Codes” in the U.S.
The U.S. housing market is in a deep sales slump, thanks to the double whammy of high borrowing costs and home prices that have priced many homebuyers out of the market. But don’t expect properties in these zip codes to sit around for very long, according to Realtor.com. Properties in these zips saw between 2.9 and 5.2 times more views than the average U.S. home listing, and spent between 32 and 45 fewer days on the market in the first six months of the 2024.
In keeping with last year’s results, Midwest and Northeast zip codes dominated the top 10 slots on Realtor.com’s list once again. Three of the top 10 hottest zip codes are in the Midwest, where housing prices on average were 24.6% lower than the national median in June. The remaining seven zip codes are in the Northeast, where average home prices in the three most affordable neighborhoods was 28.8% below the U.S. median in June.
“The hottest zip codes emphasize the importance this year’s home shoppers are placing on affordability,” said Hannah Jones, senior economic research analyst with Realtor.com. “Prices in each zip code are either lower than the national median…
